MacKenzie Scott, one of the richest people in the world, has given away over $19 billion to more than 2,000 organizations since her divorce from Amazon founder Jeff Bezos. A new three-year study by the Center for Effective Philanthropy (CEP) finds that this large-scale charity work has been “transformational” for nonprofits and other organizations that received funding.
The report analyzes data from over 1,000 organizations that received a gift from Scott between 2020 and early 2024. The results show that the gifts have had overwhelmingly positive effects on recipient organizations, particularly in areas such as social justice, human services, and education.
One of the key findings is that most organizations are spending down the funds relatively slowly, with only about 60% spent by those who received a donation in 2020. Despite initial concerns that nonprofits might struggle to manage large gifts or face difficulties with fundraising, the report finds that organizations have managed the money well.
CEP’s research shows that recipient organizations are investing in endowments, increasing operating budgets responsibly, and hiring fundraising consultants to ensure they use the funds strategically. The study’s findings are encouraging for anyone considering philanthropic giving, regardless of their financial means.
“It’s not about the size of the gift,” says Elisha Smith Arrillaga, CEP’s vice president of research. “It’s about the size of the gift relative to the organization. Every single person has the ability to do what MacKenzie Scott has done.”
Source: https://www.yahoo.com/news/3-study-finds-mackenzie-scott-134833426.html